Peter Brandt Predicts XRP Could Drop to $2.2 If This Happens

Veteran trader Peter Brandt has dropped another XRP analysis, in which he revealed what could lead to a price drop to as low as $2.2. This follows the altcoin’s drop in the crypto rankings, with BNB surpassing it to become the third-largest crypto by market cap.

Peter Brandt Reveals How XRP Could Drop To $2.2

In an X post, the veteran trader stated that the altcoin could drop to $2.22163 if it closes below $2.68743. This came as he highlighted a classic descending triangle, which was developing for the altcoin.

His accompanying chart showed how XRP has been forming a series of lower highs with a horizontal support line at around $2.6, indicating a weakening demand for the altcoin. The altcoin has notably failed to hold above the $3 level despite several retests and now looks at risk of a potential price breakdown, as Brant warned.

Amid the struggle to hold above $3, XRP has lost its position as the third-largest crypto by market following the BNB price rally to a new all-time high (ATH) above $1,300. BNB now has a market cap of around $178 billion, while XRP boasts a market cap of $177 billion.

The Bullish Outlook For The Altcoin

On the other hand, crypto analysts like CasiTrades have provided a more positive outlook for XRP. She noted that the altcoin’s price has respected the $3 zone for a few days and that momentum is gradually building.

The analyst added that consolidation like this often sets up a high-probability breakout. CasiTrades believes that this support will continue to hold and increase the likelihood of the market entering a Wave 3 up. She declared that the next wave could be sharper and longer than what market participants have seen in recent months.

As CoinGape earlier reported, on-chain analytics platform Santiment stated that XRP is flashing a buy signal. The platform explained that the altcoin is seeing its highest level of FUD since the Trump tariffs, which is generally a “promising buy signal” as prices move opposite to retail’s expectations.

Crypto analyst Ali Martinez stated that XRP was facing a major test at $3.15. However, a breakout from that level could trigger a rally to $3.60. Meanwhile, CasiTrades highlighted $4 and $4.50 as the major resistance targets looking ahead.